>> media halloween party but. melissa: said there you to look into the haunted mirror. >> the best party on the block if you did that. sandra: here is one that could be exciting. rocker robert plant says he is open to a led zeppelin reunion. he said i have nothing to do in 2014. he is bored. led zeppelin stored in 2007. the think this is a real possibility? i feel like we have seen a lot of the old rocker's come back and say i want to rock and roll again. >> it is much about being bored and more about the money. this is a money show. let's be real. i just want to see the rolling stones a couple of months ago. they were fantastic. i had never seen one. it was the best concert of my life. does not matter how will they are. if they still haven't they haven't. sandra: very nice. >> the back story here is the rubber plant was the one who everyone thought was against a reunion.

all of a sudden he wants to, first as a commoner, wanted your union. no, you really don't. he comes out looking like the good guy in the one who wants to build the team. we will see in 2014. >> these guys make a lot of money when they decide to go back on tour. the rolling stones were making a fortune. and, yes, they get rid been perry called the sterling bonds now, but they put on a fantastic show. it was like seen in 45 years ago. led zeppelin, still thinks they have it and ensure they do. go for it. >> the rolling stones play the super owl a couple of years ago. everyone was kind of like one of these people during a year. this year there lego, bring them back. all right. that's all the "money" we have tonight. thank you for joining is. we will see you tomorrow. "the willis report" is next. gerri: hello, everybody. i'm gerri willis. tonight on "the willis report" another surprise in obamacare. big changes to your health insurance. cuts and coverage, democrats and

the president's war would never happen. also, putting a price tag on immigration reform. does anybody in government even know what this is going to cost? and, an amazing new book on america, the greatest country. we have the author here tonight. he is also amazing. he's only 11 years old. all coming up next on "the willis report." ♪ all that and more coming up. first, forest gump said life is like a box of chocolates, you never know what you're going to get. and so it is with president obama's most cherished block, obamacare, promises that turned out to be untrue like you can keep your doctor. your plan will change, or medicare will be. today payments will be cut, and they are steep.

the program affected medicare advantage. as the medicare program in which private insurers provide health insurance to seniors and then paid back by the government. those payments now expected to be much lower. the insurance industry says $11 billion lower. the new payments rates are still not final, but the news sent shares and health care stocks tumbling today. look at this. he managed down 11%. it rebounded slightly. still closing down more than 6%. it's not just talk oldest and denied there. paul ryan he was accused of throwing granny off the cliff. remember this? who is throwing granny off the cliff now? the effective date is with advancing years been described by the health insurance lobby is a crushing blow. the 14 million americans rely on medicare advantage now. now at a disadvantage. many insurance companies are expected to get out of the medicare advantage business. coverage disrupted or dropped altogether.

promises that turned out to be false. insurance premiums that go up, not down. assumptions that are not realistic. full of surprises. obamacare should not be one of them. joining me now, small-business owner, founder and ceo of the green leaf book group. dr. scott gottlieb's, practicing physician and former senior policy adviser for the senators from medicare and medicaid services. welcome to you both. we to have you here. i start with you since you are on set with me. are you surprised about this cutback? >> it surprises us it is an 8-9 percent cut. part of that is at 2 percent tax on health care programs as a result of obamacare. some of the rest is because medical costs have not grown as much as they expected. taking back some of the money. they're taking away the ability of plans to manage cuts by adjusting benefits. essentially the cuts are going to come out of the bottom line. they can't do anything to try to adjust the plans to offset these cuts. gerri: what do you make of it? >> time to squeeze the medicare

advantage plans. gerri: that was a program that was put in place by george w. bush. the president has never been a fan. to you. a small business owner. i'm sure you have friends who are on medicare advantage. yesterday we had news that insurers were going to face an additional tax to pay for obamacare. where is this all going to end? >> well, unfortunately at think it's going to end on my back because i will keep paying more fees. my rights to going up in order to help bridge the difference these insurance companies will be getting from the medicare advantage payments now. gerri: i think you're right. we already have lots of evidence that private sector folks are having a hard time with this. just yesterday in the kroger ceo who had some 300,000 employees said some companies might opt to pay the penalty rather than offer coverage. we have been hearing rumors about this. the duncan brain ceo saying maybe we need to adjust redefine full-time. what do you make of that? >> you will see a lot of these

changes in the marketplace trying to adjust to find ways to get out from under the mandate. they want to go from 40 hours to 30. they want to keep themselves under a cap of 50 employees so they can avoid the obamacare mandate to be wherever they set these artificial threshold in the marketplace you will see businesses trying to adjust creating disincentives for hiring. gerri: we are getting a lot of facebook comments on this. and i was really struck by one who says, i've heard that america will have socialized medicine like to do in canada, britain, and many other countries. to you. i mean, you look at this. it seems like it is all coming back to us. we're going to have to foot the bill. the cost will be socializing the service regulating from washington, not by doctors. >> and unfortunately we're going to have is the quality will come down because right now we have the freedom to go out and use the free market in got to get the care that we need, but if you start forcing all this on as

we will eventually all get the same really crappy care that no one really wants to have which is really the big risk and where we are of 20p in the end. >> that is a key point. the insurance in these new exchanges basically will be degraded insurance, something better than medicaid managed care, but not a lot better. people who did move basically anyone in the individual market is going to find probably the coverage there getting is not as good as what they have before. very narrow networks. when they go out you will have very high coinsurance. gerri: that's not positive. you know, we were promised, of course, that we could keep our doctor. we get a facebook, it's about that. more word my doctor will leave the profession. i have to tell you, if more and more we are hearing you might not have a doctor that you want. a much more you may not even have a doctor, it may be in a practitioner. >> that's how they will make up the cost. a lot. in some cases find other cases probably not as good.

but what you're going to find, and this is basically standard and washington, the way these plans will come in under the budget caps and maintain their inexpensive, you know, coverages by having very narrow networks. not going to have a lot of choice of physicians in the obamacare exchanges. gerri: to you. i cannot help but notice today apparently on our 2012 w-2 there will be an extra added the line for employer provided health insurance. instead of just, you know, not referencing it in the w-2, now they are -- what is there super the planned? >> unfortunately premise cpa and the usually admit that in public i can tell you, what this is going to do is help set the rates that we have to pay and give rebated back on in the future, 2014. in 2014 you're going to see people getting hit with basically the refunds will evaporate in you will start seeing a bigger cost to the individual. gerri: this is a step to get us to eliminate that advantage because let's face it.

the one thing that keeps the system going as it is is that companies have a big vat tax break when they offer us of insurance. so they're happy to do it. what happens when that goes away? >> part of the thinking is if you let employees know how much health benefits costs w-2 form, if you drop coverage and put them into these changes, the hope is that if they knew what they were getting before the employer what to make of some of that money. gerri: look, i hear what you're saying, but at the end of the day it sounds to me like they are just readiness for another tax increase essentially. >> i think you're right. gerri: we had a system that worked. i want you to weigh in on this. after world war ii we had a system that was put in place, essentially employers provide coverage. they get desperate to do it. worked, costing government almost nothing. about 160 billion these days when you count all of. why don't we just keep that? why do we have to get a much more expensive plan that we cannot afford?

throwing up, throwing away the one system that did work in this country, and that's employer sponsored care. gerri: i think it's like going to the doctor with a broken arm and having a say, well, this is caused because the trip, so we should jump off your legs and then you never to begin in your arm of some of hill. it's a broken system. the fact we are trying to fix our medical system with obamacare just as a make any sense of. gerri: last words. >> essentially federally regulating the health care insurance industry. gerri: give or bad? >> it's going -- the idea is to send everyone down to the same low standard so you can provide broader coverage that is better. gerri: than air meaning not as good. care is not as good. we get to what we need. the end of the day i think it's going to be a big disappointment for all this. thank you for coming on tonight. great to have both of you here. >> thanks. gerri: fox business to know what you think. is the obama administration crushing medicare? blog contact gerriwillis.com, but on the right-hand side of the screen and we will share the

results of the end of tonight show. next, a new report shows how president obama is going to have to approve the keystone pipeline . will the? will that mean for your bottom line? we will ask gulf oil ceo coming up next. there he is.

♪ gerri: well, the stakes are eating a for president obama and his decision on the keystone pipeline. it all comes down to which liberal lobbying group he wants to appease most. the clash of democratic forces on the one hand, environmental groups converged on capitol hill, opposing the pipeline. groups that contributed greatly to its success. on the other hand, unions pushing the president to do just the opposite, hoping the pipeline will create more jobs,

not to mention potential cost savings for consumers. joining me now, the ceo of golf will it be great to see you. good to have your michele. to you think the president will go for it when everything is said and done? >> if he knows anything about economics and he cares really about growth in this country he will go for it, innreasing the infrastructure investment to moving the oil from where it is to wear it isn't. gerri: let's talk about what we get. the keystone pipeline impact, supplying 830 million barrels per day. importing 40% of its crude, over seven and a half million barrels a day. 40 percent of imports coming from opec nations. this would put us in such a much better position. importing oil in this country. wouldn't it? >> well, let's look exactly what we're doing right now. production, we will be the biggest producer of hydrocarbon be to use. we will be producing more oil

then saudi arabia and russia this year. gerri: unbelievable. >> and this is from a lot of people on the left to said we were running out. use of the reserves. companies were not drilling because they did not want to drill. we are producing copious amounts of oil. we lack the infrastructure to move from where it is to wear it isn't, and the infrastructure -- and the refineries. last year we shut basically a lot of refineries on the east coast of the net estates which makes this much more vulnerable to terrorism, hurricane, all of our refining capacity is in the gulf coast and not another coast where the populations are as large. gerri: here's the thing i understand about this when he really drill down into it. already decided we're going to avoid nebraskas sensitive regions. the ecologically sensitive regions that people were complaining about. let me show a picture of where the xl pipeline would go. we had to one-half million miles

of pipeline already. so when you talk about adding the keystone in, it's just yet another pipeline. this is something new we've never heard about or seen. >> no. pipelines are the safest way to move petroleum products, but there are other things that we can do, repeal the jones act which only limits us to u.s. vessels to take product from the gulf coast to the east coast or port to port, u.s. ports u.s. port. whether we move it by barge, whether we move in by ship, by rail, pipe, the secret is to move from where it is to wear it isn't. i keep saying that. it is not hard. and the pipeline is actually the safest environmentally friendly way to move a product. gerri: well, you said that before. worries now that we're going to damage our relationship and summer with canada. here is what craig said from the canadian association for petroleum produce. the signal of a rejection of a

permit by the president would be a significant change in the canada-u.s. relationship. canada is looking for security in demand wherever that might be throughout the world. is that going to be a problem? i think people forget how important canada is to this country. not only that we buy things from them, but there are such an important market for our goods and services. >> there are a number one trade partner. without a doubt. you know, the canadian relations to a don't think will be long impaired. it makes no economic sense for the united states. if we get much higher energy prices -- on going to give you an example. a few days ago natural-gas, which is in abundance in trading at three to $4 in the midwest and even lower in pennsylvania, trading $40 in new york for the day. the market was up because the day was cold, but that $40 price drove up electric prices for everybody in new england who is

getting an increasing amount of their electricity off of natural-gas. and now we as a retailer of electricity feel that burden as we try to sell our customers this cheap gas. and frankly, higher energy prices put a drag on the economy gerri: you bet. we have the higher gas prices for 33 days. does that continue? >> i think it will continue until this administration wakes up and really starts acting as if they are economic illiterates , which i really think is a strong term, but really the problem we have got is high energy prices dampening growth and getting higher electric prices because of a lack of capacity to bring gas and gas products to the east coast. it is not about the environment.

there is an anti hydrocarbon bias in this administration. gerri: i have to agree with you on that. we have seen that time and again. certainly seen it with cold. that is for sure, trying to shut that industry altogether. thank you for coming on. great to hear your thoughts. procedure time. go right ahead. >> i was going to say, except for coal exports we have shut down the u.s. coal industry domestically. now we are exporting coal to china in record amounts. my presumption is that china is burning that coal and going into a different atmosphere. gerri: you know, there is something funny about that because, you know, critics pang as all the time for having a higher co2 emissions, but it is not us anymore. is emerging countries like china, not us. thank you for coming on tonight. great to have you on the show. appreciate your time. >> pleasure to be here. gerri: as we have been telling

you, cyber security attacks are on the rise. a new report from the computer security company says the secret of chinese military unit believed to be behind these attacks. the people's liberation army shanghai unit has stolen data from at least 140 organization since 2006. most of the victims in the united states. the information stolen ranges from the tells on mergers to e-mails from senior employees. meanwhile, the world's leading to a company has been hacked. after reporting some of the employees computers were hacked in the lightest known attack ever against apple made computers. the unknown hackers infected the computers website for suffer developers. reporting of friday it was attacked in the same way. the social media company plans to hackers were traced back to china. chrysler spokesman said someone hacked into that jeep brand twitter account today. the hacker made false tweets for about an hour until the company said it down.

they said the cheaper in had been sold to cadillac because employees have been caught using pills. similar to an incident involving burger king yesterday. not clear if the two incidents are linked. and later in the show, we put a price tag on the white house latest immigration plan. does your child have dreams of design? music aspirations of our? well, you might need to be careful what they wish for. we will break down the debt burden they could be facing next. ♪ look, if you have copd like me,

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spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble inating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. other side effects incde dry mouth and constipation. nothing can reverse copd spiriva helps me breathe better. (blowing sou) ask your doctor about spiriva. gerri: if your kid has his or her sights set on a liberal arts education, you'll want to you the amount of debt that will be stuck within 60 seconds.

gerri: well, you have heard of starving artists. maybe there is one in your family. according to a new study of education department data, i recently took cover reason these folks are going hungry. college debt. certain debt of the schools where they study art, music, and design average almost $22,000. that is of little payment of two under and $50 a month, at the burden for graduates to make roughly $40,000 per year, even after five years of job experience. think about it. harvard, mit, yale all have better comparisons but because students are borrowing less and earning more after graduation. the highest average debt load of all of 4,000 colleges and universities in the federal database, the creative center in omaha, nebraska. the for-profit school that offers a three-year bachelor's degree in fine arts at the highest average debt load at just over $52,000. imagine that.

that degree earned previous graduates a salary of just $31,000 per year. most financial aid calculated as to make a grant will need to pull that at least $43,000 to make that $360 a month payment. starting your post college career with such an albatross is bad news. the our schools are the biggest debt collectors. we told you about the creative center. sick of this list. the men and school of music are media and that is 47,000. the southern california institute of architecture, nearly 43,000 feet. the south is not exempt. students at morehouse college in georgia carry nearly 42,000 dead fish. the study we are setting emphasizes graduates' liberal arts schools. be sure they face the toughest time making their degrees pay. the idea of comparing how much you are conspiring college grad dinner with a degree issue want and how much they will have to pay in monthly loan costs is a good idea for everybody. according to one estimate the average student graduates with $26,000 or the debt.

paying that off will likely delay when your graduate to my house, get married, have kids, and that is a shame. to give more detailed info on college costs and to make comparisons, check out white house website and click on college scorecard. a new website for the department of education just this year developed to help college prospects see the whole picture. the debt and the earnings. altogether, one place. coming up, here from 111-year-old who is so proud of this country that he wrote a book about it. the white house making a rough draft of their immigration plan as the senate continues to hammer out a plan of their own. how much is all of this going to cost us? that is my question. details next. ♪ all stations come over to mission a for a final go. this is for real this time. step seven point two one two. rify and lock. command is locked. five seconds.

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league immigration plan saying it was only a partial rough draft. a backup plan, a bipartisan group of senators failed to reach a deal on overall immigration. whatever plan washington puts forward to what's going to be the cost to the taxpayers? with more on this, the center for immigration studies and executive director for the hispanic network. i should update you. this afternoon we're getting news that the president's people are talking to the gang of eight about details trying to find common ground. that is going on right now. the annual cost to taxpayers for illegal immigrants already is over $1,100 per household, just last year. stephen, to you. will that number go up if we in this issue some type of immigration reform? >> that is research done at the heritage foundation and others suggest it will go up quite a bit because illegal immigrants are overwhelmingly on skilled. we think that a majority don't even have a high-school education, though they do mostly work, it is important to note.

what happens is once you give those unskilled workers access to more social programs, which is what happens legalization, the cost goes up. they will pay more in taxes, but the costs generally will be much larger because less educated people don't make much in the modern american economy that regardless of the status. my own research suggests that just looking at the federal level, the annual cost will roughly triple with legalization gerri: triple. to you. here is what i imagine. when i look at the list of things people talking, border security, whether tracking, and force new hiring procedures and create a new farm worker program, i hear big fat bureaucracy that we don't have right now and certainly could not sustain this work with the bureaucracy we have. what are we looking at in terms of what will have to have in government? >> first of all, our immigration system is completely broken.

we absolutely need to fix it. there is a lot of detail that is not there, so we really can score from right now. gerri: i get that, but my question is, if you have any kind of immigration reform along the lines of what the gang invaded suggesting or what the president has been quoted as suggesting, don't we have to have a lot more federal bureaucracy to make that happen? to we have to hire a lot of federal workers to guard the border, to make sure these pieces are being tracked, do all of this work that people are talking about. some of it currently is not being done at the level that people are suggesting. >> right. you know, again, a lot of detail is missing. really need to of the legislatures put on the paper some type of legislation so we can release the with the cost would be. we need to know what the definition of an enforced border is, how many more agents, how many more technology. it really isn't about the money. we have a broken system that is costing us money right now. gerri: jennifer, it's about the

money for me. it's always about the money for me because we're the ones putting the bill. look, we are sitting on $16 trillion worth of debt. at the end of the day at think we have to close the look get any additional cost we take on. >> you know, that's true. the heritage foundation is estimated back into gaza seven, without amnesty the total cost would be to a half trillion in additional cost of moving illegal immigrants to legal status because, again, they become eligible for some many knew programs. yes. if we are worried about the fiscal impact, the best thing to do would be to enforce our laws and encourage illegal immigrants to go home. the worst thing we can do is move them over to legal status. gerri: well, i know you are passionate about this topic. i want to ask you about immigrants and health care. an estimate that the pathway the citizenship could raise obamacare cost by 120 million to 200 billion average in years.

to you agree with that number? you think they have a right? >> first of all, i think we need to talk about what we're talking about, and earned legal status. we're talking about people coming into the shadows, having to pay a fine, having to pass a background check, learn english and then get in line for what is called a provisional visa during which time there would be not eligible for any federal programs. so we're talking -- and of course that has to be decided, how many number of years there will be on the provisional be set. during that time we need to at enforce our borders and we need to clear the backlog before they can even get a green card, so we have not even talking about immigrants coming into this system to receive federal programs in the near future. gerri: however, the gop senate community has come up with this estimate of a cost because a lot of people in this country are concerned about that. to you. you think we resting on a lot of costs in obamacare in years down the road? >> right. it looks like about two-thirds

of illegal immigrants live in or near poverty which would make him eligible for the provisions. again unskilled. one of the big costs is going to be obamacare. and if you say that we are not going to give them obamacare, then they are uninsured and we will use emergency rooms with a cost us money as well. the only solution is to encourage and to go home if you want to avoid the cost. gerri: a long way to go on this topic. thank you for coming in. they'd you so much for being with us. really appreciate your time. when we come back, should you be moving your money into a roth 401k? advice, and we all know america is the greatest country in the world, but an 11-year-old boy has put it into words and pictures and a new book. they join me next. stay with us. ♪

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terence collier know, this country has -- ever been so the special kind of appreciation and love for this country. most of the people here don't realize that because they have nothing to compare it to. so very special. those of the kinds of values and love that we tried says inculcate in our children also. thank goodness, you know, our children are, you know, appreciative of everything that had been blessed with. gerri: it comes through in the book. you talk about the rights and privileges of being an american, how it takes hard work. so many benefits to a government of this style and type. to you. you told our producers that your favorite part of this and typical 11-year-old boy style is you like the stuff about the military. tell me about writing that. >> my dad would assign me my topic. i would go and research it. i would jot down the date and no less. i would give them to my dad.

we discuss them. and in so we informed them. that is how we got our chapter. of the military. gerri: always interesting. boys of that topic. did you run this? it sounds like he ran the processing that it organized and going and turns to your son for inspiration as well. gerri: absolutely. i used, as you mentioned, i used to give him little assignments. i did not want him to be overburdened with the big task of, hey, we're writing a book because he could not stay focused. break-in and a very small pieces and give him a little paragraph to read it a time. slowly he got into this thing. it was very exciting by the time this got done. i am so proud of him. he has done a wonderful job. gerri: i think it's fascinating. i assume you are studying all this in school. >> yes.

gerri: tell me, do you take things from classroom right into the book? >> i took some things. i did a little research on my own. for the invasion of an up, i did that on my own. i did some other things on my own. we have not learned about the korean war yet. i had to do that on my own. some of this stuff like world war two and world war one, i did that from class. gerri: you really covered a lot of ground. this expanded your horizons. you know, it must be interesting to you. here you are, raising a son in the u.s., a totally different kind of world. tell me how it's different for him that it was for you going -- going about side of this country >> before i came to the united states i was in pakistan military. i had a very privileged life over there. you know, all in all, as you know, people will come from third world countries, you know,

either it's a world of have and have not. and you have everything, of the privilege and the power and most of the people do not have pretty much anything. before i joined the military i grew up in a village. you have to go out to the farms. there are no covered bathrooms and stuff. something i grew up in a very primitive life, primitive lifestyle. however, you look at these kids here. you cannot even -- they cannot imagine everything that they have here. you know, the rest of the world when you go outside and make a comparison, there is nothing to even compare. we're so blessed over here. gerri: amen. you know, you have that right. i'm sure that i can't even imagine compared to your background with the differences are. there were words in this book that i loved and no one to repeat them. i will repeat your book back to you. he said, go for it.

think big and work hard. is that your plan? >> yes. that is my plan. we are planning to continue writing. we have three more books in this series. the greatest americans, the greatest nation, and the greatest monuments. the greatest americans covered the people who left a big impact on american made it the greatest country. the greatest nation shows the different ethnicity and backgrounds and have they changed america when they came here. the monuments cover the basic history of the monuments and why they're so important to us. gerri: my goodness. you are such a poised little boy. thank you for coming on. really great to meet you. great to talk to you. thank you, and you have to come back when you get the next book out. >> thank you so much for having us. gerri: a pleasure. a pleasure for us. amazing. while. well, this day in history, it was this business day in 1985.

the coca-cola company hit a home run by introducing a bottled and canned version of cherry coke. no long before its official introduction diners at soda fountains dispensed an unofficial version of cherry coke by adding cherry flavor syrup to the coca-cola makes. it was all kind of ad hoc. shortly after they tested on an audience of the 1982 world's fair in knoxville tennessee it was a complete success. one year later the company rolled out diet cherry coke and added coca-cola cherry zero in 2007 with a net income of 48 billion. coca-cola offers more than 500 brands in 200 countries, ranking tenth among all soft-drink products. a long time soda fountain favorite introduced today, february 19, 28 years ago today. and still coming up later, my "2 cents more" on the post office two weeks after its announcement killing saturday mail. you'll never guess what they're up to now. unbelievable. important information about your

retirement. you could be eligible for a major money-saving move. we are. gerri: next. @%

gerri: the president putting new options on the table for you and your retirement. should you buy? real looking of for you and your money in ten minutes.

gerri: a fox business alert for you. cool is hitting a new record. the stock price topping $800 for

the first time today, closing near 807. the milestone comes near it five years after the initial breakthrough of 700. stock now risen by about 35% since april 2011. that is when co-founder larry page replaced eric schmidt as ceo. all this as the tech giant is reportedly getting ready to launch brick and mortar stores in the u.s. that is according to the "wall street journal" which says the stores would sell hardware including the smart phone. in direct attempt to compete with apple generating $10 billion in annual sales. i say good luck with that. that would be hard to match. important knew options on the books for you and your nest egg in 22 -- 2013. managing director joins me now with the latest. what we're talking about his conversion of retirement,

401(k), paying the taxes up front. the option is on the table today should you take it. >> i think that is a loaded question. a lot of factors to consider when converting to 401(k) cutoff. this is new news because this is part of the tax relief act that just came in january 1st of this year. gerri: it is not going to be tax relief. you will pay a huge tax upfront. >> that is the issue, whether or not you want to pay the tax and the conversion. in the past had to be 59 and a half or leaving your job before you could convert. know anyone regardless of age can convert your 401(k) balance to our ross 401(k). the key issue is your employer has to offer the ross 401(k) and have a provision in the plan allowing an in-plant conversion. gerri: tell me. your clients are not necessarily taking advantage of this. why? >> whether it was the roth 401(k) conversion, the people just don't want to part with the money. you pay now or later. many people feel you will be in

a higher tax bracket and the future, but no one really knows. what you do know for certain is you of the tax today, and it is a lump-sum verses distribution. gerri: it can be a big hit, and a lot of people are worried that, you know, why would i do that today when i don't know what's going to happen down the road? let me tell you about my fear. the government will decide, you know all that money accumulating in as retirement accounts, we could have some of that and apply it to the national debt. is that something we should be worried about? >> it's hard to know what will happen in the future. a lot of people do say that, but what the government is doing by allowing this, about three and a half trillion dollars. by allowing this they're estimating $12 billion in taxes generated over the next ten years which is a lot of dough for the government right now. and so that is one of the issues that the government would like to see revenues increased as a result of. the taxpayer has to understand that they of the tax on the conversion.

the good news is you don't have to do a full conversion. gerri: you said before doing this consider your tax bracket. >> absolutely. you have to forecast what bracket you will be in the future. maybe your sources of income will be investment. and it's not a good idea. if you're in a higher tax bracket, that's when you might say, okay, this makes sense. if you're a high income earner now and you can't take advantage of roth iras, this gives you an opportunity to have an asset that is growing tax free because you might be able to convert your 401(k) tell ross 401(k). gerri: out of pocket cost. >> look, you don't want to take money out of the 401(k) plan for the tax it. you have to look at your income tax projection, deductions, credits. you might have to go out of pocket depending on the size of the conversion for that tax bill. you have to make sure you have that ready. it's too much, maybe split the baby in the bath water in do

have. gerri: is something to think about. >> two main things i think our super important compared to the roth ira, you don't have the opportunity to pay the tax over two years. back in 2010, this is the final year for those who converted. the other big issue, no we characterization. there is no one doing this, no second chance. once you do with it stunt. if the market falls, you leave your job, whatever the issues are, you of the tax. gerri: thank you for explaining that. appreciate it. great job as always. we will be right back with my "2 cents more" and the answer to our question of the day. is the obama administration crushing medicare? ♪ to grow, we have to boost our social media visibility.

more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any qstions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand toew markets? hmm gotta admit that's better than a few "likes." i don't have the door code. who's that? he won a contest online to be ceo for the day. how am i supposed to run a business here without an office?! [ male announcer ] fast, reliable deliveries worldwide. fedex. a talking car. but i'll tell you what impresses me. a talking train. this ge locomoti can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needswhent needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪

today is gonna be an sometimportant day for us.? you ready? we wanna be our brother's keeper. what's number two we wanna do? brg it up 90 decatherms. how bout ya, joe? let's ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of amera's biggest cities. siemens. answers. gerri: well, earlier in the show we asked if he thought the obama ni